The value of gold reserves in the top 10 countries holding the largest gold reserves remained stable in recent years. According to World Gold Council, all the gold ever mined is 190,040 tons. Some other estimates that the total gold mined is up to 205,238 tonnes. Gold reserves are the gold bullion held by nations through central banks as a store of value. One tonne of gold is approximately 32,150.75 troy ounces.
The US still holds the lead by keeping more than 8,133 tons of gold in its treasury. Stockpiles are known to be held at Fort Knox, Kentucky, Philadelphia, Denver, San Francisco, and West Point. The second country in the ranking is Germany with 3362 tons of gold, as a repatriation program of its gold was completed by the central bank of France and the Federal bank of New York ( New York Fed). International Monetary Fund (IMF) holds about 2,814 tons of gold.
Italy holds 2451 tons of gold as a safety reserve and as a hedge against the volatility of the dollar price. France has 2436 tonnes of gold in gold coins and 12.5kg of gold bars. The vaults of the Banque de France are considered by the International Monetary Fund (IMF) to be the safest in the world.
Russia is a net buyer of gold in large quantities in the previous years due to the tensions with the Western world. China holds almost 1,948 tonnes of gold according to data released by its central bank, and there are estimates of greater gold inflows in the coming years. Switzerland holds 1,040 tonnes of gold in its central bank in Bern while it also holds 20% in the central bank of England and 10% in the central bank of Canada.
Although Japan does not need gold as a safe haven because its currency, the Yen (JPY), has the title of safe haven in global markets, it still has 765 tons of gold in its reserves. India has traditionally been one of the world’s largest consumers of gold and determines global gold demand, especially during the period when new couples get married from October to December. India is importing about 600 tons of gold every year, but most of the gold is owned by individuals with estimates that people own about 12,000 tons.
The gold price has lost 9.95% since the beginning of the year and is down 7.54% in the last three months mostly due to the rising interest rates environment.
Country Tons of Gold
United States 8,133
Germany 3,359
Italy 2,452
France 2,436
Russia 2,299
China 1,948
Switzerland 1,040
Japan 846
India 754
Netherlands 612
Taiwan 424
Kazakhstan 402
Turkey 394
Portugal 383
Uzbekistan 362
Saudi Arabia 323
United Kingdom 310
Lebanon 287
Spain 282
Austria 280
Thailand 244
Poland 231
Belgium 227
Algeria 174
Venezuela 161
Philippines 157
Singapore 154
Brazil 130
Sweden 126
South Africa 125
Mexico 120
Libya 117
Greece 114
South Korea 104
Romania 104
Iraq 96.42
Hungary 94.49
Egypt 80.73
Australia 79.84
Kuwait 78.97
Indonesia 78.57
Denmark 66.55
Pakistan 64.65
Qatar 58.27
United Arab Emirates 54.85
Argentina 54.77
Belarus 52.85
Cambodia 50.45
Finland 49.14
Bolivia 42.51
Bulgaria 40.83
Malaysia 38.88
Jordan 37.32
Serbia 36.93
Peru 34.68
Slovakia 31.69
Ukraine 27.06
Syria 25.80
Morocco 22.12
Ecuador 21.93
Afghanistan 21.87
Nigeria 21.37
Tajikistan 17.19
Bangladesh 13.97
Cyprus 13.90
Mongolia 13.89
Mauritius 12.44
Czech Republic 10.58
Kyrgyzstan 10.19
Ghana 8.74
Paraguay 8.19
Myanmar 7.27
Ireland 7.03
Guatemala 6.89
Tunisia 6.84
Sri Lanka 6.70
Latvia 6.66
Nepal 6.43
Lithuania 5.82
Colombia 4.68
Bahrain 4.67
Mozambique 3.94
Slovenia 3.17
Aruba 3.11
Bosnia and Herzegovina 2.99
Albania 2.80
Luxembourg 2.24
Hong Kong 2.08
Iceland 1.98
Papua New Guinea 1.96
Trinidad and Tobago 1.94
Haiti 1.81
Yemen 1.56
Suriname 1.46
El Salvador 1.37
Honduras 0.69
Dominican Republic 0.57
Chile 0.25
Estonia 0.25
Uruguay 0.10
Malta 0.09
Burundi 0.03
Fiji 0.03
Kenya 0.02
Oman 0.02
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